The Problem with Private Accounts

The problem with looking at private accounts as a panacea is that unless benefits are cut by more than the amount that people will be putting into private accounts, the deficits will still occur, just on a smaller scale.
What the private account supporters are apparently planning is to invest 20% of Social Security taxes in private accounts, reduce Social Security benefits by, say, 30% (at least for those who choose to use the investment option), and then hope that the private accounts can grow 50% more than what the benefits would othewise be without the accounts.

That is all.